Illinois Senate bill in Session 104.
Status: in_committee. Latest action: February 5, 2025.
ESTATE TAX-PHASE OUT.
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the amount of the taxes imposed under the Act shall be reduced in each year by 20%. Provides that no tax shall be imposed under the Act for persons dying on or after January 1, 2030 or for transfers occurring on or after January 1, 2030. Provides that the Act is repealed on January 1, 2031. Effective immediately.
| Date | Event | Detail |
|---|---|---|
| 2025-02-05 | Introduced | Bill introduced |
| 2025-02-05 | Status | in_committee |
| 2025-02-05 | Latest Action | 2/05/2025 - Senate: |